With a CAGR of 12.4%, the charter flight market size is expected to reach

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Dallas, Texas, Aug. 15, 2022 (GLOBE NEWSWIRE) — The size of the world Charter flight market is expected to grow from $48.07 billion in 2022 to $51.88 billion in 2029 at a compound annual growth rate (CAGR) of 12.4%.

The use of charter flights has increased due to significant considerations such as time constraints, last minute capacity, and unexpected applications, which have increased the global charter flight market size. A charter flight is an unplanned trip that is not tied to a scheduled airline. With a charter flight, one can hire the entire aircraft and choose the location and time of departure and arrival as needed.

Unlike scheduled flights, charter air tickets can be purchased separately through a charter company or as part of a package tour through tour operators. Additionally, tourists can book a full charter for a group (or individual).

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The charter flight offers cargo and passenger air transport services on routine routes and according to predictable schedules. In the global charter flight market, corporations and large organizations typically account for a large percentage of revenue, as they can use charter aircraft to transport employees to and from meetings, between different work sites, and solely for transporting goods. When corporate profits are high and the economy is robust, companies are more inclined to use charter planes for their employees. For example, Gama Aviation was acquired by Wheels Up in March 2020 for an unknown sum. Wheels Up is a pioneer in complete aeronautic solutions. With the acquisition, Wheels Up will have a larger fleet of over 300 owned and operated aircraft. Gama Aviation is a well-known provider of private aviation services, including managed aircraft management, private jet charter and ancillary support.

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The global air charter market is made up of businesses (organizations, sole proprietors, and partnerships) that sell passenger air charter services and related products. These companies provide charter (non-scheduled) air transportation services to their customers using aircraft, such as airplanes and helicopters, in exchange for a price per mile or per hour for chartering the aircraft. The only goods and services covered are those traded between parties or sold to end users.

Private charter services and corporate charter services are the two main sectors of passenger charter flights. A person can lease a complete aircraft from a commercial airline using private charter services. Airliners, mid-size jets, light jets, and large aircraft are different size categories. According to capacity, the global charter flight market is divided into three categories: less than 10, 10-100 and more than 100. In addition, high net worth and ultra high net worth individuals are increasingly choosing on-demand charter planes rather than their own jets, which can be more expensive to buy and operate. Throughout the projection period, this trend is expected to further expand the market.

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Main points of the table of contents:
1. Introduction
2. Research methodology
3. Market Outlook
4. Charter flights market by product type, 2018-2028 (USD billion)
5. Charter flights market by application, 2018-2028 (USD billion)
6. Charter Flights Market by Region 2018-2028 (USD Billion)
7. Competitive landscape
8. Company Profiles
9. Appendix

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Overview of Charter Flights Market Report:

Metric Details
Study period 2019-2029
Fastest growing market: North American
Market size in 2029 $51.88 billion
Segment covered Product type, applications, regions
Type of product covered Private charter services and business charter services
Applications covered Charter passengers and charter freight
Regions covered North America, Europe, Asia-Pacific, Middle East and Africa, South America
Profiled Key Players TMC Jets, VistaJet, Jet Aviation, BAA, Gama Aviation, Air Partner, Delta Private Jets, Luxaviation, Corporate Flight Management, Eastern Jet, Deer Jet, LAder Aviatio, GlobeAir, MJets, Solairus Aviation, LILY JET, Jet Linx Aviation, Executive Jet Management, TAG Aviation, Clay Lacy Aviation, PrivateFly, Asian Aerospace, Shizouka Air, Air Charters India, Phenix Jet, Club One Air, Stratos Jet Charters, Nanshan Jet, Deccan Charters and Premiair

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About Us:
Adroit Market Research is a global business analytics and advisory firm incorporated in 2018. Our target audience is a wide range of businesses, manufacturing companies, product/technology development institutions and industry associations that have need to understand the size of a market, key trends, participants and the future. prospects of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help them create opportunities that increase their revenue. We follow a code – Explore, learn and transform. At our core, we are curious people who enjoy identifying and understanding industry patterns, creating insightful study around our findings, and crafting moneymaking roadmaps.

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